For the most part welfare should be an issue dealt with by the individual, his or her employment history and future is determined they them. It is a way of allowing and encouraging the individual to save money for a period of unexpected unemployment if that may occur. This system will allow the government to cut a large amount of tax payers money out of it's annual budget,  allowing the government to return that money to the taxpayers. Also with privatized welfare it would create new jobs in the private sector. Private welfare would be legislated by the government to make it far for everyone and to protect the consumer from fraud and bad deals, allowing the individual person to invest in his/her future.